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ARTICLE 18
Pensions and Life Annuity
(1) Subject to the provisions of paragraph (2) of Article 19, pensions and other similar remuneration and annuities paid to a resident of a Contracting State shall be taxable only in that State.
(2) The term "Life Annuity" means a specified sum payable periodically on specified dates, for life or for a specified or determinable period, by virtue of an obligation to make such payments in return for a full and consequential payment of money or an equivalent value.